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What is the amount they must pay to shareholders each year

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Calculate the annual interest payment that is required on preferred stock. If a company has 20,000 share of $100 par value 6% preferred stock, which it issued at $250 per share. The company pays interest to it shareholders annually. What is the amount they must pay to shareholders each year?

A. $20,000

B. $100,000

C. $300,000

D. $120,000

Reference no: EM131797391

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